Monday May 16, 2016
Economic Calendar & Watch Lists 5/16/2016
US Futures are unchanged and European stocks are trading slightly lower by -.6%. Crude is trading higher after a 2% rally at over a 6 month high. Asian markets closed predominantly higher.
The SPY traded lower to end the week in Friday’s session. This morning, the SPY is relatively flat and support will lie at the low of Friday’s range at $204.38, followed by $203.88. Resistance will lie at the high of Friday at $206.86, followed by $207.49.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
8:30 May Empire manufacturing index expected -3.06 to 6.50
10:00 May NAHB housing market index expected +1 to 59
11:00 USDA weekly grain export inspections
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
Notable Earnings After Close
MSI: Motorola – EPS Est. $.86, Rev Est. $1.39B
URBN: Urban Outfitters – EPS Est. $.25, Rev Est. $760.06M
May 16th Swing Watch List
$MXL – Long entry over 18.53, stop 18.00. Target is 19.10 and then breakout to new highs.
$PTLA – Long entry over 24, add spot 24.40. Stop at 23.00. Room to 25.65 and then 26.60.
$XPO – Short entry under 25.70, stop 26.50. Target is 23 and then down to 22 or so near support.